K Law, White & Case, Khaitan act on Jio Platform's $200 million investment in Glance

Jio Platforms agrees to invest $200 million in internet company Glance for 17% stake
Reliance Jio
Reliance Jio

Glance, a leading AI-driven lock-screen platform has raised US$200 million (about Rs 1,500 crore) from Jio Platforms Limited (Jio).

In addition to Jio Platforms, Glance is also backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital.

KLaw and White & Case advised Reliance Jio Platforms on the deal.

The team at KLaw was led by Partner Rukmini Roychowdhury, Associate Partners Mitesh Shah (Corporate), Gautam KM (Intellectual Property aspects), and assisted by Senior Associate Rohaneel Mohite and Associates Yash Anand and Aakshay Amesur

Khaitan & Co advised Glance.

The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals.

The proposed investment by Jio is aimed at accelerating Glance's launch in several key international markets outside of Asia such as the USA, Brazil, Mexico and Russia

A business partnership agreement is also entered into between Glance and Reliance Retail to transform the internet experience for millions of Jio users. The deal is expected to lead to further strategic collaborations between Glance, Reliance Retail and Jio across devices, commerce, content and gaming ecosystems.

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